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U.S. Bancorp (USB) Acquires Talech, To Boost Digital Banking
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U.S. Bancorp (USB - Free Report) recently completed the acquisition of Talech, a Palo Alto-based software company, thus taking another step toward digital banking, which has become essential in the technology-driven environment. Financial terms of the deal, however, remain undisclosed.
Talech works to simplify operations for small- and medium-sized businesses. It focuses on turning operational tasks, like order management, inventory and staff reporting, customer management, business insights and payments processing, into a single, united point-of-sale system.
Notably, U.S. Bancorp has made a number of bank acquisitions over the past several years. These acquisitions, combined with investments in innovative product enhancements, services and people, have helped the company diversify digitally. Further, the latest buyout deal is aimed at boosting the bank’s digital expertise, which, in turn, will ensure better customer experience.
Moreover, early this year, U.S. Bancorp formed a new digital team, headed by Derek White, chief digital officer of U.S. Bancorp, in an effort to be in sync with the banking sector’s gradual shift toward digitization. Remarkably, Talech will be part of the same team.
White mentioned that U.S. Bancorp is currently focused on analyzing how customers utilize their money and what kind of digital services they expect from the company. Also, he added that the bank is successfully moving toward its goal of providing the best experience to customers through acquisitions. Talech was a strategic pick for the bank, owing to its common vision of an integrated point-of-sale system.
U.S. Bancorp’s efforts to be in line with the banking sector’s shift toward digitization are anticipated to enhance its consumer experience. This, in turn, will likely strengthen the bank’s financials over the long term.
Shares of U.S. Bank have gained 20.2% compared with the industry’s rise of 11.6%, year to date. The stock currently carries a Zacks Rank #3 (Hold).
First Horizon National Corporation (FHN - Free Report) has been witnessing upward earnings estimate revisions for 2019, over the past 60 days. Moreover, this Zacks #1 Ranked stock has rallied 23.5%, year to date.
Southern First Bancshares, Inc.’s (SFST - Free Report) current-year earnings estimate has been revised marginally upward, over the past 60 days. Further, the company’s shares have gained 23.5% in the year-to-date period. At present, it flaunts a Zacks Rank of 1.
Meridian Bank’s (MRBK - Free Report) ongoing-year earnings estimate has moved north in 60 days’ time. Additionally, the stock has appreciated 3.6%, so far this year. It currently sports a Zacks Rank #1.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
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U.S. Bancorp (USB) Acquires Talech, To Boost Digital Banking
U.S. Bancorp (USB - Free Report) recently completed the acquisition of Talech, a Palo Alto-based software company, thus taking another step toward digital banking, which has become essential in the technology-driven environment. Financial terms of the deal, however, remain undisclosed.
Talech works to simplify operations for small- and medium-sized businesses. It focuses on turning operational tasks, like order management, inventory and staff reporting, customer management, business insights and payments processing, into a single, united point-of-sale system.
Notably, U.S. Bancorp has made a number of bank acquisitions over the past several years. These acquisitions, combined with investments in innovative product enhancements, services and people, have helped the company diversify digitally. Further, the latest buyout deal is aimed at boosting the bank’s digital expertise, which, in turn, will ensure better customer experience.
Moreover, early this year, U.S. Bancorp formed a new digital team, headed by Derek White, chief digital officer of U.S. Bancorp, in an effort to be in sync with the banking sector’s gradual shift toward digitization. Remarkably, Talech will be part of the same team.
White mentioned that U.S. Bancorp is currently focused on analyzing how customers utilize their money and what kind of digital services they expect from the company. Also, he added that the bank is successfully moving toward its goal of providing the best experience to customers through acquisitions. Talech was a strategic pick for the bank, owing to its common vision of an integrated point-of-sale system.
U.S. Bancorp’s efforts to be in line with the banking sector’s shift toward digitization are anticipated to enhance its consumer experience. This, in turn, will likely strengthen the bank’s financials over the long term.
Shares of U.S. Bank have gained 20.2% compared with the industry’s rise of 11.6%, year to date. The stock currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Picks
First Horizon National Corporation (FHN - Free Report) has been witnessing upward earnings estimate revisions for 2019, over the past 60 days. Moreover, this Zacks #1 Ranked stock has rallied 23.5%, year to date.
Southern First Bancshares, Inc.’s (SFST - Free Report) current-year earnings estimate has been revised marginally upward, over the past 60 days. Further, the company’s shares have gained 23.5% in the year-to-date period. At present, it flaunts a Zacks Rank of 1.
Meridian Bank’s (MRBK - Free Report) ongoing-year earnings estimate has moved north in 60 days’ time. Additionally, the stock has appreciated 3.6%, so far this year. It currently sports a Zacks Rank #1.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>